OFFSHORE OIL AND GAS ROYALTY RATE.

SEC. 50261. OFFSHORE OIL AND GAS ROYALTY RATE. Section 8(a)(1) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(1)) is amended—(1) in each of subparagraphs (A) and (C), by striking “not less than 12½ per centum” each place it appears and inserting “not less than 16⅔ percent, but not more than 18¾ percent, during the 10-year period beginning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’, and not less than 16⅔ percent thereafter,”; (2) in subparagraph (F), by striking “no less than 12½ per centum” and inserting “not less than 16⅔ percent, but not more than 18¾ percent, during the 10-year period beginning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’, and not less than 16⅔ percent thereafter,”; and (3) in subparagraph (H), by striking “no less than 12 and ½ per centum” and inserting “not less than 16⅔ percent, but not more than 18¾ percent, during the 10-year period beginning on the date of enactment of the Act titled ‘An Act to provide for reconciliation pursuant to title II of S. Con. Res. 14’, and not less than 16⅔ percent thereafter,”.